New Mexico is the
47th state formed in the United States of America. It lies in the
southwest region surrounded by land on all sides. Aptly nicknamed “The Land of
Enchantment,” it has a vast land area of 121, 590 square miles, which is filled
with breathtaking scenery, rich history, and art.
Well, it is mostly
known for its deserts, but it certainly is more than that. It has recently
launched a renewable energy project, which covers Solar New Mexico. It is not yet
finalized, but still, how will it affect the state in general?
What is the Energy Transition Act?
warming and various climate problems right around the corner, New Mexico wanted
to do their part. The turnaround year was 2019 as they are seeking to approve
the Energy Transition Act. It is a bill that aims to increase the state’s
renewable portfolio standard.
In good faith, New
Mexico aspires to be a leader when it comes to implementing solar, wind, and
geothermal energy. In turn, they can provide job opportunities to more people
as more plants will be opened.
With this bill, it
can double the renewable energy in the state by 2025 and produce 100%
carbon-free electricity by 2045. The government is utilizing a new financial
aid called securitization. It plans to close down coal plants by offering them
lower interests, AAA-rated bonds in an attempt to get them shut.
The state still
has a long way to go, but it certainly is a step to a better future. Currently,
it is the 16th state with the highest number of solar installations.
Solar New Mexico in 2019 produces enough power to give renewable energy to
Aside from solar
panels, New Mexico is also taking steps in encouraging its residents to switch
to electric vehicles, which will significantly lower carbon footprints. One of
which is by offering a state-wide discount auto loan for new models of electric
and fuel-efficient cars.
system installation, putting solar panels on buildings to at least deliver 20%
of the building's total electricity, and the placing of new window glazing are
a few initiatives already under process.
Benefits of Installing a Solar
panels convert heat and photo energy from the sun, which turns into usable
electricity for any building. On average 6000-watt lighting system can cost
about $3.24 per watt, and about $13, 608 for installation. It might seem like a
hefty amount for now, but it lowers everything in the long run far less than
the average electric bill.
To maximize the
efforts, the New Mexico government is also offering a federal solar tax credit. It is slashing about 30% of the
total qualified system costs when homeowners install a photovoltaic solar
The state of New
Mexico also provides a property tax exemption whenever homeowners install a
renewable energy system like solar panels. They are not considered an
enhancement to the property, hence, mitigating the increase of any property
For beginners who
do not know how much is enough when it comes to solar panels, try to request a
solar quote from solar companies. Then, it would automatically compute how much
everything costs depending on the size of your home.
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